Mid-Atlantic Cooperative, L.L.C. Statement

Posted 1188 days

The Mid Atlantic Cooperative member racetracks wanted to provide its wagering guests an update as to the status of the ongoing negotiations with Monarch Content Management Company.

Unfortunately, we cannot report any significant progress. A thoughtful, comprehensive proposal was delivered by the Mid Atlantic Cooperative to Monarch on December 8 countering their proposal of December 5. Our proposal addressed Monarch’s publicly stated requests – to recognize specific premium content with above market rates. The Mid Atlantic proposal was for multiple years, to ensure stability and deter future disruptions for our simulcast guests.

We are disappointed that Monarch has chosen to not even respond with any counter offer or engage in any meaningful negotiations since our last proposal over 9 days ago. In addition, the Mid Atlantic asked Monarch to specify, in writing, the terms of an extension during this negotiation period; despite repeated public claims Monarch would offer such an extension, none has been offered in writing to date.

The Mid Atlantic Cooperative member racetracks are focused on one goal, restoring wagering on the Monarch signals in an expedited manner. The Cooperative has made fair and realistic proposals recognizing Monarch’s premium signals but despite these efforts, we cannot report Monarch shares our desire to resolve this matter.

The Mid Atlantic Cooperative remains committed to be available at any time Monarch wishes to engage in serious discussions on this issue.